Ali ant Baba are in partnership sharing profits and losses if the ratio of 3 : 2 respectively. Net profit for the year was n4,000,000.00. The extract from the provisions of the partnership agreement and other information relating to 1999 are as follows:
What is the closing balance in Ali’s Current Account?
A) ₦1,600,000 Cr.
B) ₦500,000 Cr.
C) ₦500,000 Dr
D) ₦1,600,000Dr
Answer is B
